Badger Meter, Inc. (NYSE:BMI) Stock Position Lifted by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its holdings in shares of Badger Meter, Inc. (NYSE:BMI - Free Report) by 8.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,802 shares of the scientific and technical instruments company's stock after buying an additional 1,349 shares during the quarter. PNC Financial Services Group Inc. owned about 0.06% of Badger Meter worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in BMI. Congress Asset Management Co. lifted its holdings in shares of Badger Meter by 23.1% during the 4th quarter. Congress Asset Management Co. now owns 363,164 shares of the scientific and technical instruments company's stock worth $77,034,000 after acquiring an additional 68,137 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Badger Meter by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 350,378 shares of the scientific and technical instruments company's stock valued at $74,322,000 after buying an additional 12,180 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Badger Meter by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 335,105 shares of the scientific and technical instruments company's stock worth $71,083,000 after buying an additional 23,606 shares during the last quarter. KBC Group NV raised its position in shares of Badger Meter by 0.8% in the 3rd quarter. KBC Group NV now owns 331,769 shares of the scientific and technical instruments company's stock worth $72,462,000 after buying an additional 2,515 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in Badger Meter by 2.2% in the fourth quarter. Allianz Asset Management GmbH now owns 212,024 shares of the scientific and technical instruments company's stock valued at $44,975,000 after acquiring an additional 4,631 shares during the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus upped their price target on Badger Meter from $208.00 to $209.00 and gave the stock a "hold" rating in a research note on Monday, February 3rd. Maxim Group increased their target price on shares of Badger Meter from $235.00 to $245.00 and gave the stock a "buy" rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Badger Meter has an average rating of "Hold" and an average price target of $218.75.

Badger Meter Trading Up 0.7 %

Shares of BMI traded up $1.33 during midday trading on Monday, reaching $199.43. 242,901 shares of the company were exchanged, compared to its average volume of 178,434. Badger Meter, Inc. has a 1-year low of $151.18 and a 1-year high of $239.11. The stock has a 50-day moving average price of $211.97 and a 200-day moving average price of $213.94. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 47.15, a P/E/G ratio of 3.89 and a beta of 0.83.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The scientific and technical instruments company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.01 by $0.03. Badger Meter had a return on equity of 21.77% and a net margin of 15.12%. Equities research analysts anticipate that Badger Meter, Inc. will post 4.65 earnings per share for the current year.

Badger Meter Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.68%. The ex-dividend date was Friday, February 28th. Badger Meter's dividend payout ratio (DPR) is 32.15%.

Insiders Place Their Bets

In other news, CEO Kenneth Bockhorst sold 1,165 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total transaction of $247,131.45. Following the completion of the transaction, the chief executive officer now directly owns 52,620 shares in the company, valued at approximately $11,162,280.60. This represents a 2.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William R. A. Bergum sold 148 shares of Badger Meter stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $212.13, for a total transaction of $31,395.24. Following the completion of the sale, the vice president now owns 14,051 shares of the company's stock, valued at approximately $2,980,638.63. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,949 shares of company stock worth $4,398,407 in the last quarter. 0.80% of the stock is owned by corporate insiders.

Badger Meter Profile

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.